www.iva.co.uk

hopefully there is someone around to answer this question for me please!!

I have just been informed that whilst I am in an IVA and have not received notification that the IVA has failed, I cannot petition for BR. Is this correct?

Sue

Ho Hum! Think I'll bang my drum!

Read My Blog
http://sadsack.blogs.iva.co.uk/

Basically it depends on the IVA proposalas your supervisor may have power to make you BR.

Check the proposal and I am sure the e xperts will want to say something that you can do!

I hope not - my IVA wasn't officially failed until 3 months after I went BR! I told my IP in February that I wouldn't be making any further payments and he told me that it was ok for me to go ahead and petition for BR as soon as I could afford it. So unless something has changed in the last 6 months it's not a problem.

Yesterday is history, tomorrow is a mystery, today is the present - a gift to make the most of.

View my blog at http://skippy13.blogs.iva.co.uk/

Hi
You can opt for Bankruptcy at anytime,just inform our IP out of courtesy.

Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

Thanks for your replies - my IP has been informed of this as well as the date for the hearing.

I have also been told that should my house be sold by the OR and the property is sold for less than the outstanding mortgage and second charge, this is considered a new debt and I am responsible for the outstanding amount.

Any info will be gratefully received!!

Sue

Ho Hum! Think I'll bang my drum!

Read My Blog
http://sadsack.blogs.iva.co.uk/

No and No to both queries. Andy has dealt with the first one, and if there is a shortfall on the sale of your property then this will be included as an unsecured debt in the bankruptcy.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

Hi Sue
Can I ask where you are getting this wrong info from ?
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

Hi Andy

I read a thread posted by DebtDummy on the Bankruptcy forum - "Bankruptcy and Nil Tax Code" dated 9 March 07. A response was left by a company called BankruptcyHelpline.org. I telephoned them purely out of interest, had a call back from a "senior partner" and it was he who gave me the information. Suffice to say, he scared the living hell out of me!!! I did (at the same time as posting on here) email my solicitor, who thought that it was information received from this forum which I very quickly corrected him on - so please forgive his presumption, and he responded with the following:

Do I presume correctly that your have received info via the IVA forum? Do you want to forward the link to me if so? I would be concerned if this sort of information is being dissipated - I may need to join the forum and knock a few heads together

I do agree with him that heads need to be knocked - this company claims they will hold your hand throughout the BR procedure, fill out the forms for you, attend court with you and attend the OR meeting with you - all this for a mere 10% of your total debt!!!! If I had £9,5K lying idly in a bank account, I most certainly would be in grave trouble with my IP and then with the OR.

Sue

Ho Hum! Think I'll bang my drum!

Read My Blog
http://sadsack.blogs.iva.co.uk/

10% of the total debt?!?!?! Talk about taking advantage of desperate people.

Yesterday is history, tomorrow is a mystery, today is the present - a gift to make the most of.

View my blog at http://skippy13.blogs.iva.co.uk/

Absolutely!!! But he felt that he could get it all done and dusted for me at a reduced cost of £5K.!!!!! When I asked him where he thought I would get that kind of money from - he told me it would come from me not paying my mortgage for 5 months!!!!

Sue

Ho Hum! Think I'll bang my drum!

Read My Blog
http://sadsack.blogs.iva.co.uk/

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It really worries me that there are people out there who don't have access to the real facts and would think that is the only way forward. Surely there should be some sort of regulations put in place to prevent people like this taking advantage of vulnerable people.

Yesterday is history, tomorrow is a mystery, today is the present - a gift to make the most of.

View my blog at http://skippy13.blogs.iva.co.uk/

Skip, he was very proud to tell me that "all of the partners in the firm have been made bankrupt". Begs the question - how are they running a business?

As I said earlier, it scared the living hell out of me!

If, at any time, said company takes to reading our forum and picks up this thread, I make no apology for posting. My sincere hope that others who are in a similar position to myself, read this thread and take care should they want to contact this company.

Sue

Ho Hum! Think I'll bang my drum!

Read My Blog
http://sadsack.blogs.iva.co.uk/

Thanks for updating me on that issue as I was told that if the IVA failed all be it a few years ago our supervisor would be person supervising our bankruptcy I guess that was most probably due to the fact that we had a house!

I was also informed of that - quite recently and by my solicitor. With all due respect to all IP's, I would be rather disappointed should my present IP/Supervisor be the one supervising my bankruptcy.

However, it is not always the case. It depends entirely on the OR, whether his office supervises or if someone else does so.

Heres hoping!!!!!

Ho Hum! Think I'll bang my drum!

Read My Blog
http://sadsack.blogs.iva.co.uk/

Sue

Just wanted to wish you the best, I really hope things move quickly and smoothly for you. I always read your threads with interest and have followed your journey. I think you deserve some luck now.

Try to stay sane
Love

lily